Weiss Ratings Reiterates Hold (C+) Rating for Nelnet (NYSE:NNI)

Key Points

• Weiss Ratings has reiterated a "Hold (C+)" rating for Nelnet (NYSE:NNI), reflecting ongoing cautious sentiment from investment analysts.
• Nelnet reported earnings per share of $5.05 for the previous quarter, significantly exceeding the consensus estimate of $1.91 and generating revenue of $540.61 million.
• Insiders sold a total of 50,125 shares of Nelnet stock in recent months, indicating substantial selling activity among major shareholders.

Nelnet (NYSE:NNI - Get Free Report)'s stock had its "hold (c+)" rating reiterated by investment analysts at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded shares of Nelnet from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Nelnet presently has a consensus rating of "Hold".

Nelnet Trading Up 0.9%

Nelnet stock opened at $132.67 on Friday. Nelnet has a 52 week low of $98.15 and a 52 week high of $136.17. The company has a debt-to-equity ratio of 2.27, a quick ratio of 29.41 and a current ratio of 29.42. The stock has a market capitalization of $4.80 billion, a P/E ratio of 14.69 and a beta of 0.84. The stock has a 50-day simple moving average of $127.79 and a 200 day simple moving average of $120.29.

Nelnet (NYSE:NNI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The credit services provider reported $5.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $3.14. The firm had revenue of $540.61 million during the quarter, compared to the consensus estimate of $376.40 million. Nelnet had a net margin of 14.86% and a return on equity of 10.09%. Analysts expect that Nelnet will post 4.52 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Shelby J. Butterfield sold 41,929 shares of Nelnet stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $119.25, for a total value of $5,000,033.25. Following the transaction, the insider directly owned 510 shares of the company's stock, valued at $60,817.50. This trade represents a 98.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas Edward Henning sold 5,094 shares of Nelnet stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $128.87, for a total transaction of $656,463.78. Following the completion of the transaction, the director directly owned 11,058 shares in the company, valued at $1,425,044.46. This trade represents a 31.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,125 shares of company stock worth $6,056,252 over the last three months. 50.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in shares of Nelnet by 6.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,353 shares of the credit services provider's stock worth $164,000 after buying an additional 83 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Nelnet by 14.5% during the second quarter. Harbor Capital Advisors Inc. now owns 772 shares of the credit services provider's stock worth $94,000 after buying an additional 98 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Nelnet by 4.0% during the second quarter. Inspire Investing LLC now owns 3,236 shares of the credit services provider's stock worth $392,000 after buying an additional 123 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Nelnet by 6.8% during the second quarter. Ameriprise Financial Inc. now owns 2,825 shares of the credit services provider's stock worth $342,000 after buying an additional 180 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Nelnet by 1.4% during the second quarter. California State Teachers Retirement System now owns 12,992 shares of the credit services provider's stock worth $1,574,000 after buying an additional 181 shares during the last quarter. 33.51% of the stock is owned by institutional investors.

Nelnet Company Profile

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.

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